Analysts at Bexplus believe that during the BTC sideways trade, when the price will bottom out and rise, perhaps investors can refer to the maximum fluctuation range of BTC. Recently, BTC showed a technical rebound at the lowest of $27,777 and $28,800 on January 4th and January 22nd, respectively. Similar points indicate that BTC has signs of rebound recently. Nevertheless, the lowest closing position may still move downward.
In terms of trading activity, BTC’s trading volume on January 26th was at a low point in a month, which means that BTC has a demand for increased activity. However, the short-term performance of BTC is not strong, and there are still signs of further breaking.
It is undeniable that the DeFi concept currency has performed strongly recently, but this is not consistent with the mainstream cryptocurrency market. Although ETH’s rise and fall, due to its large market value, it is difficult for the short-term market to show unilateral performance. Especially after three consecutive short-term rebounds recently, the price fluctuation range narrowed while the indicators deviated. Rather than saying that ETH is going to pull the market, it is better to say that ETH follows the pace of BTC’s adjustment and is in a typical direction selection stage. The rise of strong currencies will also be a matter of timing. Is the current opportunity for BTC to start short-term? Perhaps it is most important to pay attention to risks.
The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.